EFCC probes MTN’s listing on NSE

MTN's suit against AGF stalled over absence of judge

The Economic and Financial Crimes Commission, EFCC, is currently probing MTN Nigeria Plc for alleged manipulation of its recent share listing on the Nigerian Stock Exchange, NSE.

The probe was disclosed in a statement on Saturday by the telecommunication company, adding that the EFCC had requested for some information and documents regarding the listing of its shares on May 16.

The company, however, added that it had not been accused of any wrongdoing and that it received all the necessary regulatory approvals to start trading the stock.

Read also: MTN suffers first share price fall, dropping ASI 1.9%

“We wish to reiterate that we received all regulatory approvals required to list on the Nigerian Stock Exchange as publicly confirmed by the NSE Securities and Exchange Commission,” the statement signed by the Company Secretary, Uto Ukpanah, stated.

It was, however, gathered that operatives of the anti-graft agency raided the headquarters of the company in Lagos on Friday.

Join the conversation


About the author

Timothy Enietan-Matthews

Timothy is a versatile journalist, down to earth with a critical and curious mind.

Do NOT follow this link or you will be banned from the site!